We spent our last $2K on a great wedding and honeymoon.
Then i spent 6 months drawing the plans of a house with very little custom sizing. So ...we borrowed money from my Work's Credit Union and bought land.
Then we went to the bank and said ...heyyy we have equity in the land we own ...give us $xxx to build our dwelling ...and the monkey's did!!
Heh heh! We built and sold the dwelling within 6 months and made 33% profit (NO CAPITAL GAINS TAX!) ...with which we bought another block outright with cash ...re-borrowed and built and sold another dwelling again.
We went on to do a Caravan Park which we auctioned off in LJ Hookers Pitt Street Auction rooms and made a nice 130% profit ...and no capital gains tax.
Strata title units ...land subdivisions ...more properties followed ...ahhhh what blissful days ...and no capital gains tax.
Man! What a greater nation, this could really be ...without capital gains tax ...where initiative and solid hard work, with the schmarts would once again be rewarded for those prepared to have a go!!
